Cloudera Sets IPO Price Range Below $4.1 Billion Private Valuation

Cloudera Inc. set a price range for its offering Monday that would give the company a market capitalization of $1.79 billion, below its most recent private valuation. The software company received a $4.1 billion valuation in March 2014, according to the Wall Street Journal. Cloudera set a price range of $12 to $14 per share and plans to sell 17.3 million shares, which would bring in up to $242 million. On a per share basis, Intel Crop. paid $30.92 in 2014 along with its $740 million investment. Cloudera has been approved to list on the New York Stock Exchange under the symbol "CLDR."